A Laing O’Rourke subsidiary that appointed liquidators last year could pay out some of the money it owed its creditors when it collapsed.
Liquidators for Laing O’Rourke Construction South Ltd (LORCS) said some of the £127.2m owed to unsecured creditors could make its way back to them.
Meghan Andrews and Matthew Richards of Azets were appointed as liquidators for LORCS – a subsidiary of Laing O’Rourke Plc – last February. Laing O’Rourke is the third biggest contractor in the UK, posting a turnover of £3.96bn in its latest accounts.
It is “anticipated that a distribution may become available for the unsecured creditors”, the liquidators for LORCS said in their latest update on the liquidation, published last month.
So far,…